Tuesday, September 16, 2025

Canadian Home Sales on the Rise Despite High Interest Rates

High interest rates aren’t sending potential homebuyers to the sidelines.

Latest data from the Canadian Real Estate Association shows that national home sales were up 2.3% between January and February, largely led by transactions in the Greater Toronto and Greater Vancouver areas. However, sales were 40% lower compared to February 2022, and are rather now on par with the number of transactions seen for that month in 2018 and 2019.

Monthly home sales (CNW Group/Canadian Real Estate Association)

Meanwhile, the national average home price stood at $662,437, marking an 18.9% drop from the record set in February 2022; still, the average price was up over $50,000 from January, thanks to substantial gains in the GTA and the GVA. “The similarities between 2023 and the recovery year of 2019 continued to emerge in February, with sales up, the market tightening, and month-over-month price declines getting smaller,” said CREA economist Shaun Cathcart.

The number of newly listed homes fell 7.9% month-over-month in February, causing inventory to decline from 4.2 months in January to 4.1 months— an entire month below the long-run average. “Future sellers, many of whom will also be buyers, are likely biding their time until the optimum time to list and buy something else. For most, that’s in the spring. Will buyers jump off the fence to snap homes up in 2023 once they finally start to hit the market? They did in 2019,” added Cathcart.

Information for this briefing was found via the CREA. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

FOMC Preview: Will The Fed Hike The US Economy Straight Into a Recession?

With a sixth interest rate hike en route this week, some economists are sounding the...

Tuesday, November 1, 2022, 08:44:57 PM

75 BASIS-POINTS: Fed Embarks on Biggest Hike Since 1994 to Tame Inflation

In an attempt to preserve its rapidly-plummeting credibility, the Fed hiked rates by a shocking...

Wednesday, June 15, 2022, 03:50:19 PM

Canada’s Economy Slows Down in Q4 Thanks to High Interest Rates

The Bank of Canada’s rising interest rates are slowing down the economy’s momentum, as GDP...

Tuesday, February 28, 2023, 11:40:00 AM

Bill Ackman Doubles Down on Call for More Aggressive Interest Rate Hikes to Cool Inflation

Billionaire investor Bill Ackman is once again calling on the Federal Reserve to wake up...

Thursday, May 26, 2022, 12:33:00 PM

Federal Reserve Maintains Interest Rates For Second Meeting In A Row

The Federal Reserve has opted to keep interest rates steady at a 22-year high of...

Wednesday, November 1, 2023, 02:23:34 PM